Fla. Stat. § 326.001
Short title
Sections 326.001-326.006 may be cited as the “Yacht and Ship Brokers’ Act.”
Florida Statutes Chapter 326 — YACHT AND SHIP BROKERS
Florida · statute · Fla. Stat. ch. 326 · 6 active provisions
Fla. Stat. § 326.002
Definitions
As used in ss. 326.001-326.006, the term:(1) “Broker” means a person who, for or in expectation of compensation: sells, offers, or negotiates to sell; buys, offers, or negotiates to buy; solicits or obtains listings of; or negotiates the purchase, sale, or exchange of, yachts for other persons.(2) “Division” means the…
Fla. Stat. § 326.003
Administration
The division shall:(1) Administer ss. 326.001-326.006 and collect fees sufficient to administer ss. 326.001-326.006.(2) Adopt rules pursuant to ss. 120.536(1) and 120.54 to implement ss. 326.001-326.006 and to classify brokers and salespersons and regulate their activities.(3) Enforce the provisions of ss. 326.001-326.…
Fla. Stat. § 326.004
Licensing
(1) A person may not act as a broker or salesperson unless licensed under the Yacht and Ship Brokers’ Act. The division shall adopt rules establishing a procedure for the biennial renewal of licenses.(2) A broker may not engage in business as a broker under a fictitious name unless his or her license is issued in such…
Fla. Stat. § 326.005
Escrow depository, closing transactions
(1) A broker shall place any funds received pursuant to a transaction into a trust account in a savings and loan association, bank, trust company, or other financial institution located in this state having a net worth in excess of $5 million until he or she disburses such funds. A separate record shall be maintained o…
Fla. Stat. § 326.006
Powers and duties of division
(1) Proceedings under the Yacht and Ship Brokers’ Act shall be conducted pursuant to chapter 120.(2) The division has the power to enforce and ensure compliance with the provisions of this chapter and rules adopted under this chapter relating to the sale and ownership of yachts and ships. In performing its duties, the…